Supporting social cohesion in difficult times: Message from the Governor

Confidence is essential for building a better future, particularly in difficult times. So, it is with confidence and well-grounded optimism, that I am pleased to report that, after a very challenging year, the Council of Europe Development Bank (CEB) ended 2022 in a stronger, fitter position for supporting its member countries in their efforts to address rising social challenges.

On a stronger footing for challenging times: the CEB in 2022

The still unfolding crises that have shaken Europe have confirmed the CEB as a veritable linchpin within the international development finance architecture. Read more...

Key figures 2022
Loans approved


€4.2 bn

36 projects in 16 countries

— Ukraine-related

€1.3 bn

Loans outstanding


€19.9 bn

Total assets


€31.5 bn

About the Report of the Governor 2022

Russia’s aggression against Ukraine, a cost-of-living crisis, an intensifying climate crisis: the past year has been a severely testing one for Europe on many fronts. The Council of Europe Development Bank (CEB) has been mobilising its resources and expertise to support member states and their citizens in responding to these unprecedented, interwoven challenges. This Report presents highlights of the year, summarising key projects and actions in 2022 as the CEB delivered on its mission of promoting social cohesion.

Europe’s social development bank in action

When the CEB issued its 2020-22 Development Plan at the end of 2019, the global outlook was already starting to look unstable. The policy consensus among European countries was one of promoting sustainable and inclusive growth, spurred on by a digital transition backed by policies that would leave no one behind. At the CEB, this translated into three lines of concrete action on the social front to drive its strategy:


Financial Report 2022

During the reporting period ended on 31 December 2022, the CEB recorded a solid financial performance. The audited results for the financial year 2022 show a net profit of €79.7 million;  at 31 December 2022, the CEB’s total assets amounted to €31.5 billion.

2022 in review: CEB in action

Watch our 1-minute video reviewing some of the highlights of a challenging if fruitful year at the Council of Europe Development Bank (CEB).


Partnerships are essential to the CEB’s business model, by helping the Bank to operate more effectively and achieve a greater impact. Just as for the COVID-19 crisis, the importance of partnerships was again in evidence in 2022 in addressing the crisis generated by the Russian aggression against Ukraine.


“Sustainability” refers to the way the CEB delivers on its social mandate, so as to make a lasting positive impact on people, especially the most vulnerable, on society and on the planet. In 2022, the Bank continued to advance sustainability in all its activities, from core business to internal operations.

Donors in support of CEB social action

Co-operation with donors is instrumental to achieving the CEB’s mission. The CEB raises funds from donors to provide extra support to projects where needed and improve their social impact. This applies particularly to projects aimed at vulnerable persons and communities in disadvantaged areas.